Franklin Templeton Introduces Solana ETF to Market

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The asset management firm Franklin Templeton has expanded its digital asset offerings with a new exchange-traded fund. The fund provides investors with exposure to Solana, a prominent blockchain network.

Trading commenced under the ticker SOEZ on the NYSE Arca platform. A notable feature of this ETF is that it incorporates staking rewards for holders.

Roger Bayston, the firm’s head of Digital Assets, stated that Solana is evolving into a fundamental layer of the digital economy. He highlighted its speed and efficiency as drivers for tokenized assets and new financial applications, attracting developer and institutional interest.

Franklin Templeton’s existing crypto product suite includes funds tracking Bitcoin, ETH, and XRP. However, it follows other issuers like Fidelity, VanEck, and several crypto-native firms in launching a Solana ETF. The first fund to offer staking rewards for Solana launched in July.

This launch is part of a recent wave of crypto ETF introductions, covering assets from Chainlink to DOGE. The regulatory environment under the current SEC has grown more accommodating, with efforts to provide clarity and expedited approval processes for such products.